Packaging Corp Of America Declares Quarterly Dividend of $0.40 (PKG)
Packaging Corp Of America (NYSE:PKG) announced a quarterly dividend on Thursday, August 28th, Analyst RN reports. Shareholders of record on Monday, September 15th will be paid a dividend of 0.40 per share on Wednesday, October 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.38%.
A number of research firms have recently commented on PKG. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Packaging Corp Of America in a research note on Wednesday, July 30th. They now have a $79.00 price target on the stock, up previously from $77.00. On a related note, analysts at Barclays raised their price target on shares of Packaging Corp Of America from $68.00 to $72.00 in a research note on Wednesday, July 23rd. They now have an “equal weight” rating on the stock. Finally, analysts at Credit Agricole upgraded shares of Packaging Corp Of America from an “underperform” rating to a “buy” rating in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $71.33.
Packaging Corp Of America (NYSE:PKG) traded down 0.06% during mid-day trading on Thursday, hitting $67.20. 329,059 shares of the company’s stock traded hands. Packaging Corp Of America has a 52 week low of $51.85 and a 52 week high of $75.10. The stock’s 50-day moving average is $66.91 and its 200-day moving average is $68.99. The company has a market cap of $6.530 billion and a price-to-earnings ratio of 13.23.
Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Monday, July 21st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 83.5% on a year-over-year basis. Analysts expect that Packaging Corp Of America will post $4.66 EPS for the current fiscal year.
In other Packaging Corp Of America news, SVP Thomas W.H. Walton unloaded 10,144 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $66.94, for a total transaction of $679,039.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Packaging Corporation of America is a producer of containerboard in the United States. The Company’s corrugated products manufacturing plants produce a variety of corrugated packaging products, including conventional shipping containers used to protect and transport manufactured goods, multi-color boxes and displays.
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